Been playing with this a lot now, and it still seems that something is out-of-whack. 
 
If you set the vale low (say the default of 0.4) you can basically go skydiving and only take 50 or so damage. While if you set it high, you take a couple of hundred just from tripping over. 
 
I can't seem to find the sweet spot where small falls do hardly any damage, but long falls are fatal. At a guess, the falling formula is hitting the maximum damage value far to soon. 
		
	
		
		
		
		
		
		
		
		
		
	
		
		
	
	
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